09:30 AM EST, 02/22/2018 (MT Newswires) -- RNC Minerals (RNX.TO) says Cobalt 27 Capital Corp. will acquire an existing 1.75% Net Smelter Return royalty on all future production over all metals from the Dumont Nickel-Cobalt Project.

The Dumont NSR royalty is the first investment by Cobalt 27's wholly-owned subsidiary, Electric Metals Streaming Corp. The 1.75% NSR royalty contains a US$15 million buyback right to the Dumont joint venture to repurchase 0.375% of the 1.75% NSR, which if exercised would result in a 1.375% remaining NSR. The one-time Repurchase Option is only exercisable on the third, fourth or fifth anniversary of the original royalty agreement dated July 8, 2015.

"Cobalt 27's acquisition of the 1.75% NSR royalty highlights why the Dumont Nickel-Cobalt Project is one of the world's premier battery metals projects. Dumont not only contains the world's largest undeveloped reserves of both cobalt and nickel, it also fully permitted and construction-ready, close to existing infrastructure, and located in one the world's most desirable mining jurisdictions in Quebec," said Mark Selby, President and CEO of RNC Minerals.

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